121 Warner St · Rochester, NY 14606

$129,900

4 bd · 2.0 ba · 1,794 sqft · Townhouse public records · 13 Days on market

Built 1986 5,236 sqft lot Est $109k · 19% over

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 121 Warner Street in Rochester, a well-maintained corner-lot duplex offering strong income potential and flexibility for both investors and owner-occupants. Built in 1986, this property offers a major advantage over many older multi-family homes in the area with no lead paint concerns typically associated with pre-1978 properties. Current C of O is transferrable; lead paint-free! Situated on a . 12-acre corner lot, this 1,794 square foot duplex features two spacious 2-bedroom, 1-bath units, each with similar layouts and thoughtful updates throughout. Both apartments include newer laminate flooring, kitchens with cabinets in good condition, and updated bathroom vanities, creating

Key facts

• Corner lot duplex
• Appliances included
• Parking

Tags

• CORNER LOT DUPLEX
• UPDATED BATHROOM VANITIES
• NEWER LAMINATE FLOORING
• WELL MAINTAINED BOILER
• APPLIANCES INCLUDED
• ELECTRICAL PLACEMENTS

Property features AI

Finance

• Other: Two total units (multi-unit); Two separate gas meters; Two separate electric meters; Operating expenses may include maintenance, professional management, and trash
• Financial info: Owner pays grounds care, snow removal, and trash collection; Rent/maintenance may include common area maintenance, gardener, snow removal, and trash collection

Exterior

• Parking: Concrete parking; One parking space
• Utilities: Cable available; Public water connected; Sewer connected; Circuit breaker electric
• Home design: Single-story property; Resale condition
• Construction: Aluminum siding; Copper plumbing; Asphalt roof; Existing year built (pre-owned)
• Exterior features: Corner lot; Near public transit; Rectangular lot; Lot dimensions approximately 77 x 68

Interior

• Flooring: Laminate; Varies
• Bathrooms: 2 full bathrooms
• Heating & cooling: Gas heating; Baseboard heating; Hot water heating; Has heating
• Interior features: Thermal windows; Laminate and varied flooring
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $130k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).

Location & tenants

• Location reads 76/100 on livability (#222 in NY, #3,482 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime F, employment F.
• Rochester City School District (urban): math 21% / reading 26% proficiency, ranked #589 of 590 in NY (top 100%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.3%/yr); 124 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,169 units permitted in Monroe County in 2024 (591 in 5+ unit buildings).
• This rent runs 36% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Monroe County population projected to shrink 6% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 6.3% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $129,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.22%
• DSCR: 1.72
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $109,434
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Warner St	0.05mi	4/2.0	1,646 (-8%)	3mo	$105,000	$64	81
86 Myrtle St	0.19mi	4/2.0	1,798 (+0%)	12mo	$75,000	$42	81
61 Sterling St	0.22mi	3/2.0 (-1)	1,685 (-6%)	5mo	$155,000	$92	70
7 Bauer St	0.36mi	3/2.0 (-1)	1,734 (-3%)	6mo	$116,495	$67	67
374 Ames St	0.66mi	4/2.0	1,760 (-2%)	4mo	$23,000	$13	62
365 Glenwood Ave	0.70mi	4/2.0	1,816 (+1%)	4mo	$47,500	$26	62
42 Villa St	0.31mi	4/2.0	1,542 (-14%)	1mo	$93,500	$61	61
161-163 Michigan St	0.34mi	5/2.0 (+1)	1,620 (-10%)	3mo	$105,000	$65	61
501 Child St	0.45mi	4/2.0	1,617 (-10%)	3mo	$65,000	$40	60
97 Locust St	0.58mi	4/2.0	1,852 (+3%)	11mo	$77,500	$42	58
350 Avery St	0.41mi	4/2.0	1,588 (-12%)	12mo	$178,000	$112	51
358 Colvin St	0.68mi	4/2.0	1,670 (-7%)	15mo	$60,000	$36	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.28% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.44×
• Total profit: $15,921
• Equity at exit: $19,369

10-year hold

• IRR: 22.1%
• Equity multiple: 3.17×
• Total profit: $79,022
• Equity at exit: $11,231

Cash invested: $36,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 14606

• Home prices YoY: -17.9%
• Rents YoY: 6.3%
• Active inventory: 124
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,665 high
• Mortgage (P&I): −$681
• Tax from tax record: −$88 /mo · $1,062/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $492

Break-even live

Break-even rent $1,043

Max offer price $129,900

Occupancy floor 65%

Sensitivity live

Price	-10% $565	-5% $528	+0% $492	+5% $455	+10% $418
Rent	-10% $360	-5% $426	+0% $492	+5% $557	+10% $623
Rate	-1.0pp $557	-0.5pp $525	base $492	+0.5pp $458	+1.0pp $424

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
385 Ames St Rochester, NY	3.0	1.5	1738	$1,500	$0.86	22d	1	0.62mi
649 Jay St Rochester, NY	5.0	2.0	2144	$2,000	$0.93	3d	1	0.64mi
108 Wetmore Park Rochester, NY	3.0	2.0	1278	$1,900	$1.49	11d	1	0.70mi
327 Glenwood Ave Rochester, NY	3.0	1.0	2012	$1,690	$0.84	3d	1	0.72mi
98 Pierpont St Rochester, NY	3.0	1.0	1973	$1,295	$0.66	44d	1	1.07mi
2 Jay St Unit 2 Rochester, NY	3.0	1.0	1252	$1,045	$0.83	44d	1	1.21mi
48 Thorndale Ter Rochester, NY	4.0	1.5	1700	$1,400	$0.82	15d	1	1.25mi
28-30 Carthage Dr Unit 28 Rochester, NY	3.0	1.0	1415	$1,600	$1.13	24d	1	1.26mi
1016 Lake Ave Unit 1 Rochester, NY	3.0	1.0	1300	$1,600	$1.23	44d	1	1.38mi
161 Fillmore St Rochester, NY	4.0	2.0	1612	$1,400	$0.87	15d	1	1.44mi

Listing history 20 events

1. 2026-06-18
   days on market $129,900 Active 13 DOM
2. 2026-06-17
   days on market $129,900 Active 12 DOM
3. 2026-06-16
   days on market $129,900 Active 11 DOM
4. 2026-06-15
   days on market $129,900 Active 10 DOM
5. 2026-06-13
   days on market $129,900 Active 8 DOM
6. 2026-06-13
   days on market $129,900 Active 7 DOM
7. 2026-06-10
   days on market $129,900 Active 5 DOM
8. 2026-06-09
   days on market $129,900 Active 4 DOM
9. 2026-06-09
   days on market $129,900 Active 3 DOM
10. 2026-06-07
    pricedays on marketlisting id $129,900 Active 2 DOM
11. 2026-06-05
    days on market $149,900 Active 8 DOM
12. 2026-06-03
    days on market $149,900 Active 7 DOM
13. 2026-06-03
    days on market $149,900 Active 6 DOM
14. 2026-06-01
    days on market $149,900 Active 5 DOM
15. 2026-05-31
    days on market $149,900 Active 4 DOM
16. 2026-05-08
    historical
17. 2026-04-19
    listed $119,900 Active
18. 2026-02-06
    status Pending
19. 2026-02-04
    historical
20. 2026-01-26
    listed $119,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $1,062 · $88/mo
• Projected year-2 tax: $1,628 · $136/mo
• Expected delta: +$567/yr (+$47/mo · 53.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,982
• − Mortgage interest: −$7,276
• − Property taxes: −$1,062
• − Insurance: −$650
• − Repairs & maintenance: −$1,599
• − Management: −$1,599
• − Depreciation: −$3,779
• Taxable income: $4,018
• Est. tax owed @ 24.0%: −$964
• After-tax cash flow: $4,936/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rochester City School District
• NCES district ID: 3624750
• Math proficiency: 21% ▬ 0.00%
• Reading proficiency: 26% ▲ 4.00%
• Median HH income: $30,923
• Composite: 18.98/100
• National rank: #8850
• State rank: #589 of 590 in NY

Livability — Rochester

• Score: 76/100
• State rank: #222
• US rank: #3482

Category grades

Amenities B- Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester, NY
• County: Monroe County · 674,131 people
• City population: 432,803
• Metro: Rochester, NY
• Population (ZIP): 25,538
• Household income: $55,807
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 986.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 759,460 people
• By 2030: 757,154 · -0.3%
• By 2040: 740,644 · -2.5%
• By 2050: 714,443 · -5.9%
• By 2075: 645,883 · -15.0%
• By 2100: 547,084 · -28.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 51% Black 26% Hispanic / Latino 17% Two or more races 8% Asian 3%
• Hispanic origin (detail): Puerto Rican 12% Cuban 2%
• Common ancestry: Romanian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 10% · Canada, Vietnam, Philippines
• Languages at home: 79% English-only · Spanish 12% Other Indo-European 3% Other Asian/Pacific 2%

Political lean MEDSL · Monroe

• 2024 margin: D (+19.1) · D 59.5% · R 40.5%
• 2008→2024 swing: +1.4pp toward D · 2008: 17.7pp · 2024: 19.1pp
• All cycles: 2024: D+19.1 2020: D+21.0 2016: D+14.1 2012: D+17.4 2008: D+17.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.59%
• Current HPI: 287.6868
• Rent YoY: ▲ 6.28%
• Metro: Rochester, NY
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+8.3% since first listed

8 events — show timeline

• 2026-06-05 Listing Removed — UNYREIS
• 2026-06-05 Listed $129,900 UNYREIS
• 2026-05-27 Listed $149,900 UNYREIS
• 2026-05-08 Listing Removed — UNYREIS
• 2026-04-19 Listed $119,900 UNYREIS
• 2026-02-06 Pending — UNYREIS
• 2026-02-04 Listing Removed — UNYREIS
• 2026-01-26 Listed $119,900 UNYREIS

Property tax history

+0.4%/yr

Latest (2025): $1,062 · +6.3% YoY. Source: county tax records.